Member Info for Bannor

Grrrrr where NOT whether.... frickin autocorrect - always catches me on a word I just can't believe it would need to even consider a correction !!!

...indeed ... I too have been wondering whether Frankie has got to.... does anyone know if she's OK?

Yes but equally they could have paid as much in cash as they could & the balance in shares...

...see what tomorrow brings ....

........ & the loan debt is considerably higher than our MCAP ...

Yes that's make's sense - I suspect Lind might be the recipient of the 100,124,258 shares at .18 ... would explain a lot ....

It's also over 6% of the company's SCAP - so who had .... or could it be now has (if the SP was purposely manipulated to allow someone to buy in at .18!!) 6% of the company ... with that percentage,of a holding change we should get an RNS in th err next couple of days....... I also note it was later reversed & increased in size....

https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02096555

That's not putting a drill in the ground ... & it's a payment that facilitates us putting feet on the ground is all as far as I'm concerned .. as I said I think we're just gonna gave accept a difference in understanding which will I'm sure become evident as to whose is correct in due course ..... to our additional cost in my view... really gotta go now....

..... disembarking so offline until much later .... have fun all ....

Oddly I'm planning to go fishing over the weekend - Omen?!? LoL :-))

Shame that Kiran Mnigas is unlikely to do another webinar after the last shambolic one (in my opinion) as it'd be a good question for him to try & answer without messing it up....

Sorry £1.1M + £2.15M in shares so to buy the companies a total of £3.25M... then we can start putting drills in the ground...n

So we're paying them cash £1.1M + the equivalent of £2.25M in shares for total ownership of the companies which includes the assets ... then we can start the actual drilling on our licences (& pay additionally for it).

That's my reading of it ...

From the header of the column covering the table of increased %'s

Total Consideration or the Acquisition of Lithium Technologies Pty Ltd & Lithium Supplies Pty Ltd

TC - OK we're reading it differently you have your interpretation & I have mine being that the £300k for fieldwork & the £700k for identifying drilling targets is just that & that those amounts are payable to the 'founding shareholders' of LT & LS in payment for the increased % ownership as it states in the RNS the other %'s being paid for in shares.

Fieldwork & identification of drill targets is a very distinct & different stage to actually drilling as far as I can read & & in my opinion.

Shall we just agree that one us will be proven correct in their assessment & understanding in due course... apologies for any typos/grammar on a tiny phone on a small ferry to the mainland currently...

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=KDNC&ArticleCode=bfp06bua&ArticleHeadline=Acquisition_of_Lithium_Assets_in_Australia

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=KDNC&ArticleCode=bfp06bua&ArticleHeadline=Acquisition_of_Lithium_Assets_in_Australia

Personally I'd be guided by what's in the most recent RNS which has 'variations' to the original agreement ... doesn't say anything other than Earn in....

& I didn't say at any point that the £1.3M placing would be used to repay the loan .... just that I believe they will need additional funds for the drilling itself.

Hi TC that's not how the RNS reads to me regarding drilling...

£100K 'Earn in' for 4%
£300k 'Earn in' on commencement of fieldwork to 31.5% ownership
£700k 'Earn in' on identification of drill targets to 75% ownership

Then once we own 100% by issuing a further 1.7Bn shares taking the total cost of buying the company's (LT & LS) to the equivalent of £3.25M par value & potentially a **** load more depending what our SP does (they haven't been impacted by the share price fall like us because despite saying otherwise the Minigases adjusted the shares issued in line with the fall in the value of our SP so their reward on a rise is massively increased assuming they don't dump as soon as they can).

Then once we own 100% we'll need to fund drilling - I don't see how it can be read any other way .. but you're free to do so of course :-))

Have they raised enough from the sale (& realised losses) of our BCN direct holdings + the placing to pay the loan & do both the drilling & pay off the loan.... my monies on them doing another placing as soon as they get a rise they can feed it into. .. :-(